M&A Deal Summary

General Atlantic and TowerBrook Capital Partners Acquire PT Solutions

On December 17, 2021, growth capital firm General Atlantic and private equity firm TowerBrook Capital Partners acquired healthcare services company PT Solutions from Lindsay Goldberg

Acquisition Highlights
  • This is General Atlantic’s 18th and TowerBrook Capital Partners’ 7th transaction in the Healthcare Services sector.
  • This is General Atlantic’s 147th and TowerBrook Capital Partners’ 36th transaction in the United States.
  • This is General Atlantic’s 2nd and TowerBrook Capital Partners’ 1st transaction in Georgia.

M&A Deal Summary

Date 2021-12-17
Target PT Solutions
Sector Healthcare Services
Buyer(s) General Atlantic
TowerBrook Capital Partners
Sellers(s) Lindsay Goldberg
Deal Type Secondary Buyout

Target

PT Solutions

Atlanta, Georgia, United States
PT Solutions is a provider of physical therapy services through stand-alone, outpatient physical therapy clinics, hospitals, physician groups, and other partners. PT Solutions was founded in 2003 and is based in Atlanta, Georgia.

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Buyer(S) 2

Buyer

General Atlantic

Investor Investor Investor Investor Investor


Category Growth Capital Firm
Founded 1980
PE ASSETS 105.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

General Atlantic is a large private equity firm that invests globally in growth-oriented public and private companies. Broad areas of interest include financial services, media and consumer, healthcare, enterprise solutions, communications and electronics, and energy. General Atlantic looks to invest $40 to $400 million in transactions that support growth, expansions, buy-outs, consolidations and build-ups. General Atlantic seeks to make 8 to 12 investments per year with an investment horizon of five to ten years. The Firm's geographic coverage spans North America; Europe; Asia/Pacific; and India. General Atlantic was formed in 1980 and is based in New York, New York.


DEAL STATS #
Overall 310 of 364
Sector: Healthcare Services M&A 18 of 25
Type: Secondary Buyout M&A Deals 23 of 30
State: Georgia M&A 2 of 3
Country: United States M&A 147 of 175
Year: 2021 M&A 46 of 46
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-12-10 CANbridge

Suzhou, China

CANbridge is a biotechnology company focused on developing and commercializing rare disease therapeutics in China. CANbridge was founded in 2012 and is based in Suzhou, China.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-01-06 PayFit

London, United Kingdom

PayFit revolutionizes and simplifies payroll and HR processes for companies. Fast, intuitive, and automated, PayFit allows employers to easily and independently manage payroll and human resources, saving them valuable time and allowing employees to access a dedicated online space. PayFit was founded in 2015 and is based in London, United Kingdom.

Buy -
Buyer

TowerBrook Capital Partners

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2001
PE ASSETS 22.8B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

TowerBrook Capital Partners is a private equity firm focused on leveraged buyouts, leveraged build-ups and distressed situation investments throughout North America and Europe. TowerBrook prefers control-oriented investments and actively pursues complex situations that other firms may avoid. Target sectors include consumer services, distribution, beverages, pharmaceuticals, media, technology, communications, software, and healthcare. TowerBrook Capital Partners was established in 2001 and is headquartered in New York City.


DEAL STATS #
Overall 82 of 101
Sector: Healthcare Services M&A 7 of 7
Type: Secondary Buyout M&A Deals 24 of 29
State: Georgia M&A 1 of 1
Country: United States M&A 36 of 42
Year: 2021 M&A 10 of 10
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-10-25 IGNITE Fitness Holdings

Orange, Connecticut, United States

IGNITE Fitness Holdings is a Planet Fitness franchises in North America, operating over 120 gyms in the U.S. and Canada serving more than 670,000 members. With c. 18.1 million members and 2,440+ stores worldwide. The company’s mission is to enhance people’s lives by providing a high-quality fitness experience in a welcoming, non-intimidating environment. IGNITE Fitness Holdings was founded in 2003 and is based in Orange, Connecticut.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-02-28 Orchid

Vero Beach, Florida, United States

Orchid is a managing general underwriter providing specialty property and casualty insurance products to homeowners, high net worth individuals and small businesses, primarily in coastal regions throughout the U.S. and the Caribbean. Orchid provides proprietary insurance solutions for hard-to-place risks to a growing, national network of retail agents and other strategic distribution partners. Orchid was founded in 1998 and is based in Vero Beach, Florida.

Sell -

Seller(S) 1

SELLER

Lindsay Goldberg

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2001
PE ASSETS 20.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Lindsay Goldberg is a large private equity firm that targets investments in traditional, basic industries. Lindsay looks to commit $50 to $250 million per transaction in sectors that include basic & commodity manufacturing, financial services, food, and distribution. Lindsay looks to partner with management in pursuing transactions. Lindsay Goldberg was formerly known as Lindsay Goldberg & Bessemer. The Firm was formed in 2001 and is based in New York City.


DEAL STATS #
Overall 37 of 42
Sector: Healthcare Services M&A 4 of 4
Type: Secondary Buyout M&A Deals 16 of 18
State: Georgia M&A 1 of 1
Country: United States M&A 29 of 33
Year: 2021 M&A 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-09-27 Summit Interconnect

Anaheim, California, United States

Summit Interconnect is a manufacturer of advanced technology printed circuit boards. Manufacturing services include quick-turn, prototype, and production through our advanced technology facilities located in California. Summit Interconnect was founded in 2016 and is based in Anaheim, California.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-01-01 Doppler Veterinary Network

Baltimore, Maryland, United States

Doppler Veterinary Network is a national group of veterinary services providers. Doppler builds tightly integrated local veterinary networks and offers full-service care to improve outcomes for pet families and providers. Doppler Veterinary Network was founded in 2022 and is based in Baltimore, Maryland.

Buy -